Tavistock Investments Share Discussion Threads

[tomgold] 08/4/2021 07:45

“There is a limit to the amount of financial information the Board is permitted to release at this time“

So was no need for a trading update then... what a waste of an RNS!

Given the historic slow pace of this company keeping shareholders up to date, how much can really change in such a short space of time.

Currently entertaining the option of calling a general meeting for a vote of no confidence in the BOD..

Same nonsense different day with these guys.

PS: you can filter for QuePassa’s comments so this forum becomes a lot cleaner, click on the username arrow. Better for the bona fide shareholders one can argue.

[makeamillion3] 07/4/2021 22:29

Is there a option to report idiotic posts.
I’m convinced this is some complete moron. There is absolutely no way a CEO/BOD or whatever Cooke is can behave like this.
If we are bringing the past up, this could be really interesting. How far shall we go?

[quepassa] 07/4/2021 22:07

Citywire article extract:-

"A Tavistock Wealth spokesperson said there were ‘differences’ in opinion between the business and Peel, as well as questions around performance, which ultimately led to him leaving the business.‘There were differences of opinion regarding future strategy, particularly in terms of product development. The board also reviewed the historical performance of our fund ranges and decided that it was time for a change. We would like to thank Chris [Peel] for his contribution to the development of the group,’ the spokesperson said."



ALL IMO. DYOR.
QP

[makeamillion3] 07/4/2021 21:25

Here we go again....
Let’s play the copy and paste game


Your arrogance is getting boring. You keep spouting that utter drivel when anyone challenges Tavi or the BOD’s and you wonder why you have such little trust or respect. If you are actually Cooke, your either losing the plot or you are more ignorant than many thought. If your someone else thinking they are helping Cooke/Raven, you aren’t.
Perhaps instead of spouting what a ‘company spokesperson’ said back last summer, we could have a spokesman explain these failed attempts of incentives and where the loss of confidence appeared.
Explain the share price performance under the so called leadership.
Explain why the books aren’t presented?
Maybe some answers rather than another cut and paste special.

ALL IMO, DYOR, COPY AND PASTE, ONE WONDERS WHERE ONE WENT WRONG, BAD LUCK TO LONG STANDING SHAREHOLDERS... etc etc etc..

[quepassa] 07/4/2021 21:16

Citywire article extract:-

"A Tavistock Wealth spokesperson said there were ‘differences’ in opinion between the business and Peel, as well as questions around performance, which ultimately led to him leaving the business.‘There were differences of opinion regarding future strategy, particularly in terms of product development. The board also reviewed the historical performance of our fund ranges and decided that it was time for a change. We would like to thank Chris [Peel] for his contribution to the development of the group,’ the spokesperson said."



ALL IMO. DYOR.
QP

[tomgold] 07/4/2021 21:06

Looks like QP is working overtime tonight, trying to hide the truth again?

Once you filter his comments this forum is much cleaner, much like the Tavistock management board.

Out you go... 3/3 you and Brian like that hit rate as per your last 2 resignations. Ring any bells?

[quepassa] 07/4/2021 20:46

A notable 66% were in full support of management proposals.

Not at all far from management's required 75% - so a respectable result against a somewhat adverse backdrop and hostility from certain quarters.


However the voting results speak to two very important matters:-

1.With 66% or two-thirds shareholder support for management, it makes any low-ball, opportunistic, undervalued and non-recommended bid approach requiring either 50% or 75% look unachievable.

2. It also appears to me that once management get the share price motoring in the right direction, even more shareholders will come around to being supportive of ensuring an attractive management reward and incentivisation program.
This can happen with alacrity once increasingly positive results, higher profits and growing AUM come through.



Good Luck to the management and bona fide shareholders of Tavistock where a very bright, rewarding and independent future lays ahead.

Now is the time for shoulder to the wheel.


ALL IMO. DYOR.
QP

[quepassa] 07/4/2021 20:46

On 1/4/21, Team announced Letters of Intent totalling 13.99%

A week later, Team today announce Letters of Intent totalling 14.61%


In the space of a week, Letters of Intent have increased by 0.62%


Hardly a significant or meaningful increase.



It is to be noted that irrevocable LoI's amount to just 5.12%. The balance of LoI's representing 9.49% are all non-binding.


One can but draw one's own conclusions about the rate and size of increase in LoI's of a mere 0.62% in the space of a week.


Looking very forward to Tavistock's y/e Trading Update to be released this week.



ALL IMO. DYOR.
QP

[quepassa] 07/4/2021 20:45

Citywire article extract:-

"A Tavistock Wealth spokesperson said there were ‘differences’ in opinion between the business and Peel, as well as questions around performance, which ultimately led to him leaving the business.‘There were differences of opinion regarding future strategy, particularly in terms of product development. The board also reviewed the historical performance of our fund ranges and decided that it was time for a change. We would like to thank Chris [Peel] for his contribution to the development of the group,’ the spokesperson said."



ALL IMO. DYOR.
QP

[phillzy1] 07/4/2021 20:31

I agree that a cash bid is needed but asking £30m for this business is very very rich (that's the going rate per billion AUM for a clean business).

The amount of liabilities Tavistock has build up together with the terrible management team heavily devalues the business. I can only assume this is why we are trading down here.

Don't get me wrong I want someone to come in and pay 50p a share but you would have pretty brave to pay £30m for a business that reported a loss of £5.7m last year (5 of which was unallocated which everyone is still in the dark about, HOW DO YOU LOSE £5M?), is riddled with debt, questionable expenses/accounting practices and management issues.

There is value in this company but it not straight forward to how to unlock it.

[phillzy1] 07/4/2021 20:22

We went from a General Meeting resolution where 'no one was against', to out of the blue the performance target getting hiked to 7p for all to fail again. LOL

Good Luck to the management team, you are truly underwater now.

Surprised at the lack of press coverage.... no doubt the trading update will be all over the media to cover up for the car crash of the failed 'lining the leadership team' operation

[mandarin4] 07/4/2021 20:22

QP, the support you state for the failed incentive is mostly made up of Cooke, Raven and one or two other large shareholders I think. Hardly a resounding success to still not get the backing with such a head start on the ‘no vote’ is it.

I do agree that TEAMS current bid is a non starter and the above can basically block any vote. TEAM need to get their act together and make a cash offer of at least double their current offer, only that way will support show up I think

[tomgold] 07/4/2021 20:16

I eagerly await what could have possibly have changed in a few short months to warrant another trading update.

Anyone fancy calling an GM on a vote of confidence on the current board?

[makeamillion3] 07/4/2021 20:15

QP.
Your arrogance is getting boring. You keep spouting that utter drivel when anyone challenges Tavi or the BOD’s and you wonder why you have such little trust or respect. If you are actually Cooke, your either losing the plot or you are more ignorant than many thought. If your someone else thinking they are helping Cooke/Raven, you aren’t.
Perhaps instead of spouting what a ‘company spokesperson’ said back last summer, we could have a spokesman explain these failed attempts of incentives and where the loss of confidence appeared.
Explain the share price performance under the so called leadership.
Explain why the books aren’t presented?
Maybe some answers rather than another cut and paste special.

ALL IMO, DYOR, COPY AND PASTE, ONE WONDERS WHERE ONE WENT WRONG, BAD LUCK TO LONG STANDING SHAREHOLDERS... etc etc etc...

[russman] 07/4/2021 19:48

Current Bod are discombobulated.

[quepassa] 07/4/2021 19:42

Citywire article extract:-

"A Tavistock Wealth spokesperson said there were ‘differences’ in opinion between the business and Peel, as well as questions around performance, which ultimately led to him leaving the business.‘There were differences of opinion regarding future strategy, particularly in terms of product development. The board also reviewed the historical performance of our fund ranges and decided that it was time for a change. We would like to thank Chris [Peel] for his contribution to the development of the group,’ the spokesperson said."



ALL IMO. DYOR.
QP

[doubledippers] 07/4/2021 19:36

I agree with all of today’s comments other than the normal nonsense from QP.

The cancellation of tomorrow’s GM is another stain on the long tarnished reputations of Raven and Cooke.

They should be ashamed of their behaviour. Three times they have tried to line their own pockets at the expense of ordinary shareholders and three times they have been voted down.

At what point do they start to see the light? They have NO supporters outside of the company other than from the one benefitting from a material conflict of interest (service provider).

I am appalled at their arrogance and greed. Bring on the trading update and let’s see what lies can be spun out of management’s remaining futile existence.

[quepassa] 07/4/2021 19:21

A notable 66% were in full support of management proposals.

Not at all far from management's required 75% - so a respectable result against a somewhat adverse backdrop and hostility from certain quarters.


However the voting results speak to two very important matters:-

1.With 66% or two-thirds shareholder support for management, it makes any low-ball, opportunistic, undervalued and non-recommended bid approach requiring either 50% or 75% look unachievable.

2. It also appears to me that once management get the share price motoring in the right direction, even more shareholders will come around to being supportive of ensuring an attractive management reward and incentivisation program.
This can happen with alacrity once increasingly positive results, higher profits and growing AUM come through.



Good Luck to the management and bona fide shareholders of Tavistock where a very bright, rewarding and independent future lays ahead.

Now is the time for shoulder to the wheel.


ALL IMO. DYOR.
QP

[mandarin4] 07/4/2021 16:28

Dear Mr Cooke,

Your shareholders have spoken. You and Mr Raven would do well to heed the warning. Your employers are unimpressed with your tenure and things have changed today. No longer can you use our company to line your own pockets, it is time to deliver to your long suffering shareholders.

If you put as much effort into the shareholders incentive scheme as you have yours you may find some support but if not then its time for us to get rid and find other senior management. An EGM with a vote of no confidence is looming, your time to deliver is running out.

None of the senior management deserve any incentives until the share price gives us back value, so over to you.

Regards

M4

[makeamillion3] 07/4/2021 15:13

MEETING CANCELLED

66.4% for
34.6% against

Final paragraph reads.....

‘The Board remains of the view that the introduction of an alternative growth share incentive scheme would be an effective and appropriate way of incentivising and rewarding members of its management team but has noted the views of shareholders regarding the proposal put forward. The Board remains open to constructive engagement with shareholders whilst being mindful of the importance of attracting, retaining and incentivising senior management’.


I don’t understand why the senior management need incentivising to get the company back to square one.

I’ve said it again, from 8.2p to lows of 1.3p Enormous losses for many. Then celebrating 2.4p like it’s an amazing achievement....
Then wanting rewards for moving anywhere near the original value.

This being voted out tells you many are long standing holders and are fed up.
Many have been let down.
Many believed in empty promises.
Many stood by for years as the share price dropped.
Many have lost confidence.

Here is an incentive. Get it up to 8p and above, then take a bonus.

If you are so confident, why not plough all your money in today at 2.5p and make a massive bonus there also?

What more incentive do you need? Or do you only play with ‘other peoples money’?

One has to wonder how one gets away with this....

ALL IMO DYOR

Looking forward to QP’s positive spin on this.

[makeamillion3] 07/4/2021 14:10

I think everyone is looking forward to the trading update QP.

As said in numerous previous posts, we should see
- reduced costs as administrative offices and staff costs reduced across the group
- reduced cost from senior management wage cuts announced following covid.
- A good increase of FUM following the market recovery from market lows last March/April after covid.

BUT
Many will still want to see the effect of the covid/government loan, and the resulting capital position.

I’m hoping it’s better than what some have predicted.

Again, I feel the offer from team is far too low, but agree the books should be open.
That could drive an increased offer if they are as clean as QP would let us believe.

One has to do one’s own research and not follow blindly with trust and optimism.

ALL IMO DYOR

[quepassa] 07/4/2021 13:56

On 1/4/21, Team announced Letters of Intent totalling 13.99%

A week later, Team today announce Letters of Intent totalling 14.61%


In the space of a week, Letters of Intent have increased by 0.62%


Hardly a significant or meaningful increase.



It is to be noted that irrevocable LoI's amount to just 5.12%. The balance of LoI's representing 9.49% are all non-binding.


One can but draw one's own conclusions about the rate and size of increase in LoI's of a mere 0.62% in the space of a week.


Looking very forward to Tavistock's y/e Trading Update to be released this week.



ALL IMO. DYOR.
QP

[chrisdgb] 07/4/2021 12:24

Fingers crossed for a white knight........

[mandarin4] 07/4/2021 10:30

Lots of big sells today. QP have you been tipping off your friends again ?

Why would there be a flurry of large sells when we are expecting this stellar trading update?

TEAM pulled out maybe? Or miraculously the management incentive has been passed and peeps are selling to avoid dilution?

So many questions but few answers just yet